Caterpillar Inc. $CAT Shares Purchased by Swedbank AB

Swedbank AB raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 18.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 334,218 shares of the industrial products company’s stock after purchasing an additional 52,590 shares during the quarter. Swedbank AB’s holdings in Caterpillar were worth $110,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Voya Investment Management LLC grew its holdings in shares of Caterpillar by 1.0% during the first quarter. Voya Investment Management LLC now owns 300,786 shares of the industrial products company’s stock valued at $99,199,000 after purchasing an additional 3,072 shares during the last quarter. Maple Capital Management Inc. grew its holdings in shares of Caterpillar by 24.3% during the first quarter. Maple Capital Management Inc. now owns 881 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 172 shares during the last quarter. Peterson Wealth Management grew its holdings in shares of Caterpillar by 3.7% during the first quarter. Peterson Wealth Management now owns 1,749 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 63 shares during the last quarter. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Finally, eCIO Inc. bought a new position in shares of Caterpillar during the first quarter valued at approximately $58,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAT. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. DA Davidson upped their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $457.20.

Caterpillar Stock Performance

Shares of CAT stock opened at $431.10 on Friday. The firm has a market capitalization of $201.96 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The business has a 50 day simple moving average of $420.04 and a 200 day simple moving average of $365.16.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $5.99 earnings per share. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.